The San Carlos Real Estate Week in Review: 5-3-15.
May 4, 2015
Much has been discussed on this site about the rocket-like trajectory of 3-bedroom home prices in San Carlos, since the 3-bedroom house makes up the majority of the housing stock in the city. But not to be overlooked is the pricing on 2-bedroom homes. It wasn't too long ago that you could get a 2-bedroom home for under $1,000,000 on the west side of San Carlos. It's pretty safe to assume that those days are long past us, as we witnessed 100 Garnet Avenue close this past week for $1,410,000 making it the 11th most expensive 2BR home to sell in San Carlos in the past 15 years. There are other 2-bedroom homes that are currently pending sale that will close well above the $1M mark as well.
Even the smallest of homes in the Greater East Side of San Carlos will be topping the $1M mark with regularity as prices continue to rise in San Carlos and all along the Peninsula. It doesn't seem that far away that a 7-figure price will become the entry point for any single-family home in San Carlos. Even the dirt value of flat ~5,000 square foot flat lot on west side will easily top $1M.
Here are the details from last week:
By the Numbers.
Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 5-3-2015:
| San Carlos Housing Data | 5-3-15 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 4 | 7 |
| Average Sold Price: | $1,523,750 | $1,469,143 |
| Average $/Sq Foot (Sold) | $882 | $847 |
| Average Sold as Percentage Of List Price: | 120% | 114% |
| Average DOM of Closed Sales | 11 | 13 |
| No. of Homes Pending Sale: | 20 | 17 |
| No. of New Listings: | 5 | 6 |
| Total # of Active Listings: | 13 | 15 |
| Average Price of Active Listings: | $1,786,073 | $1,666,067 |
| Average DOM of Active Listings: | 17 | 18 |
| Average $/Sq Foot (List) | $770 | $772 |
| Active-Pending Ratio: | 0.65 : 1 | 0.88 : 1 |
The San Carlos Open House Page.
If you're looking at open houses this weekend in San Carlos, check out the San Carlos Open House List. With one click on the Open House sign below, you'll get a “live” list of all the homes and condos that will be open this weekend in San Carlos! It's updated continuously from the MLS, so bookmark this link and you'll never have to wander around town looking for open houses again.
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Single-Family Homes Sold in San Carlos:
Below is a list of the single-family home contracts that closed escrow this past week in San Carlos. Click on the address of each to see the complete details.
| Address | Sold Price | Orig. List | Difference | Days on Market |
|---|---|---|---|---|
| 250 Loma Road | $1,975,000 | $1,799,000 | +$176,000 (+9.8%) | 14 |
| 18 Arch Lane | $1,485,000 | $1,398,000 | +$87,000 (+6.2%) | 13 |
| 100 Garnet Avenue | $1,410,000 | $1,199,000 | +$211,000 (+17.6%) | 8 |
| 850 Buckland Avenue | $1,225,000 | $829,000 | +$396,000 (+47.8%) | 7 |
Note: The sold data provided above is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction.
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San Carlos Homes Pending Sale for the Week:
The following homes went into contract his week. Click on the address of each home to see more details and photos:
| Address | DOM (days) | List Price |
|---|---|---|
| 202 Timothy Drive | 10 | $1,798,000 |
| 1527 Magnolia Avenue | 12 | $1,388,000 |
| 84 Hilltop Drive | 10 | $1,375,000 |
| 1321 Cordilleras Avenue | 14 | $1,098,000 |
| 906 Montgomery Street | 37 | $949,000 |
Note: The pending data provided above is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction. _______________________________________________________________________________________
New Single-Family Home Listings in San Carlos:
Below are the new listings that hit the market this past week in San Carlos. Click on the address of each home to see more details and photos.
| Address | List Price | BR/BA | Sq Ft (home/lot) | Listed By |
|---|---|---|---|---|
| 2151 White Oak Way | $2,080,000 | 3BR/3BA | 2,520/7,500 | David Young, Coldwell Banker |
| 790 Knoll Drive | $1,888,000 | 4BR/3BA | 2,260/7,912 | Tuan Tran, Zephyr Real Estate |
| 173 Fairmont Avenue | $1,549,000 | 3BR/2BA | 1,480/5,500 | Marc Romer, Keller Williams |
| 662 Dartmouth Avenue | $1,495,000 | 4BR/3BA | 3,130/11,700 | John Shroyer, Today Sothebys |
| 140 Palm Avenue | $968,950 | 2BR/1BA | 970/4,645 | Lisa Susnow, Keller Williams |
Note: The listing data provided above is strictly for informational purposes only, and should not imply that the author is the listing agent
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